GST Council: No GST on petrol, diesel yet, compensation cess till 2026

The Goods and Service Tax (GST) Council decided against including auto fuels within its ambit following unanimous opposition from states, even as it specified that compensation period would not be extended beyond 2022.  Finance minister  Nirmala Sitharaman  highlighted that the cess collected from July 2022 till March 2026 will be used solely for repayment of back-to-back loans give…